Wealthfront Advisers LLC Makes New $541,000 Investment in Park Hotels & Resorts Inc. (NYSE:PK)

Wealthfront Advisers LLC bought a new position in Park Hotels & Resorts Inc. (NYSE:PK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 38,472 shares of the financial services provider’s stock, valued at approximately $541,000.

A number of other institutional investors have also added to or reduced their stakes in PK. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Park Hotels & Resorts by 40.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 124,217 shares of the financial services provider’s stock worth $1,748,000 after purchasing an additional 36,016 shares in the last quarter. Kendall Capital Management boosted its holdings in shares of Park Hotels & Resorts by 10.4% in the 4th quarter. Kendall Capital Management now owns 15,405 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 1,450 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Park Hotels & Resorts in the 4th quarter worth about $873,000. M&T Bank Corp boosted its holdings in shares of Park Hotels & Resorts by 35.4% in the 4th quarter. M&T Bank Corp now owns 48,484 shares of the financial services provider’s stock worth $683,000 after purchasing an additional 12,681 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in Park Hotels & Resorts by 3.4% during the 4th quarter. Assetmark Inc. now owns 23,355 shares of the financial services provider’s stock valued at $329,000 after acquiring an additional 764 shares during the period. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PK shares. Wells Fargo & Company dropped their target price on Park Hotels & Resorts from $17.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. UBS Group dropped their target price on Park Hotels & Resorts from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Jefferies Financial Group dropped their target price on Park Hotels & Resorts from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, StockNews.com cut Park Hotels & Resorts from a “hold” rating to a “sell” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Park Hotels & Resorts presently has a consensus rating of “Hold” and an average price target of $18.15.

Park Hotels & Resorts Trading Up 4.1 %

PK opened at $11.35 on Monday. The business has a 50 day simple moving average of $12.94 and a two-hundred day simple moving average of $14.05. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.51 and a beta of 2.02. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.19 and a quick ratio of 1.51. Park Hotels & Resorts Inc. has a one year low of $10.87 and a one year high of $18.05.

Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Park Hotels & Resorts had a return on equity of 5.63% and a net margin of 8.16%. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $609.05 million. Analysts predict that Park Hotels & Resorts Inc. will post 2.11 EPS for the current year.

Park Hotels & Resorts Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.81%. The ex-dividend date is Monday, March 31st. Park Hotels & Resorts’s dividend payout ratio is currently 99.01%.

About Park Hotels & Resorts

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.